PolyU Tech Launchpad Fund Scheme (the TLF Scheme) is a matching fund aiming to accelerate the growth of technology start-ups founded by PolyU members in their early-stage of development, with the funding source from Innovation and Technology Commission (ITC) under Technology Start-up Support Scheme for Universities (TSSSU) and in collaboration with:

Open Partner Ventures (OPV)

Hong Kong Business Angel Network (HKBAN)

Hong Kong Science and Technology Parks Corporation (HKSTP)

The Indus Entrepreneurs Hong Kong (TiE HK)

The TLF Scheme supports:

1. Technology-oriented Start-ups

those working on projects with considerable amount of technology content, and preferably making use of PolyU patents/technologies/intellectual properties

2. Technology-enabled Businesses

those using platform technologies (e.g. RFID and BLE for Internet of Things applications) to enable/facilitate the business

Funding and Support

Authorised Collaborating Investor is an investor/investment firm/investment fund under a collaborative arrangement with PolyU to co-finance the Funded Start-up under the TLF Scheme. For the Government FY 2019-20, an investor with one of the following status is preliminarily regarded an Authorised Collaborating Investor subject to confirmation of the TLF Investment Panel:

a partner of Open Partner Ventures (OPV)

a member of Hong Kong Business Angel Network (HKBAN)

a partner of Hong Kong Science Park (“HKSTP”) Investor Network

a Charter Member of The Indus Entrepreneurs Hong Kong (TiE HK)

Eligibility

The Applicant should meet the following conditions to apply for the PolyU Tech Launchpad Fund Scheme (the TLF Scheme):

The Applicant must be a company comprising at least two members in the core team, in which there shall be at least one PolyU Member in any mix of the following:

Undergraduates / graduates / postgraduatesi;

Professorsii to serve as consultant(s), providing technical expertise and direction of the research and developmentiii (R&D) work; and/ or

Alumni.

One PolyU Member must be appointed as the Person-in-charge (“PIC”). The PIC is required to take a key management positioniv in the applying company and can be reached by PolyU during normal business hours, to be responsible for:(a) overseeing the operations of the company; and(b) liaising with PolyU on matters relating to the funding support under the TLF Scheme.

For the avoidance of doubt, the appointed PIC cannot join other concurrently active teams/ start-ups funded by TSSSU administered by ITC of the Hong Kong Special Administrative Region (“HKSAR”) Government, namely this TLF Scheme and HKSTP-PolyU Tech Incubation Fund (“TIF”) Scheme, or any other TSSSU funding scheme hosted by another university.

Any current staff member of PolyU who wishes to take equity / management role in the applying company should seek the University’s approval, subject to pertinent policies and regulations governing knowledge transfer and outside activities.

The company must be incorporated in HKSAR under the Companies Ordinance within 24 months upon 1 February 2019 for the TLF application of Government FY2019-20. PolyU may request proof thereof including but not limited to audited financial report of the company. However, company funded by the TIF or the TLF Scheme previously will be considered as re-applying and not be restricted by this condition.

The applying company must be technology-oriented with R&D elements, which means that the applying project / company must have a considerable amount of technology content, preferably with PolyU technologies/ patents/ intellectual properties. Nevertheless, tech-enabled businesses, such as those using platform technologies (e.g. RFID and BLE for Internet of Things applications) are also welcomed.

The applying company itself, or the company / core team that the applying company is closely associated to v has graduated from, or is currently in, one of the qualified pre-incubation / incubation / acceleration programmes. Qualified programmes include but not limited to PolyU Micro Fund (“MF”) Scheme, Cyberport Creative Micro Fund (“CCMF”) Scheme, Youth Business Hong Kong (“YBHK”), TIF Scheme, STEFG-PolyU China Entrepreneurship Fund (“CEF”) Scheme, PolyU Lean Launchpad Programme (“LLP”) and incubation programmes provided by HKSTP and Cyberport, etc. Generally speaking, pre-incubation / incubation / acceleration programmes offered by universities, public institutions, reputable NGOs or private companies are acceptable; OR

The Applicant is commercialising PolyU technologies previously supported by the Innovation and Technology Support Programme (“ITSP”) or Midstream Research Programme for Universities (“MRP”) administered by ITC.

i Current research postgraduate student should check with Research Office (+852 3400-3635) if any approval is necessary prior to application

iii R&D activities refer to creative work undertaken on a systematic basis so as to increase the stock of knowledge for devising new and improved products/ processes/ applications and improve existing products/ processes/ applications. They usually carryan appreciable element of novelty or innovation and can be conducted in such areas as natural sciences, engineering and technology, medical and health sciences, social sciences and humanities. (Consensus and Statistics Department, the Government of HKSAR, 2014, http://www.censtatd.gov.hk/hkstat/sub/sc120.jsp)

iv In the sole opinion of PolyU, key management position usually should be evidenced by (a) 20% or more ownership, in the form of equity shares or share options of the applying company; and (b) working on a full-time basis in the applying company.

v In the sole opinion of PolyU, the two companies are “closely associated” when (a) either one company has controlling ownership of the other company; or (b) the two companies have similar shareholding structure owned by the core team of the Applicant. It usually occurs when the company/core team has graduated from or is currently in an overseas pre-incubation/incubation programme.

Application

Each application must contain an Application Form (downloadable from: www.polyulaunchpadfund.hk) along with an Investment Pitch Deck (please refer to Appendix 1 for Investment Pitch Deck Writing Guidelines) describing proposed business idea/proposition (“Business Proposal”).

In addition to the Application Form and the Investment Pitch Deck, the Applicant should provide the following documents:(a) CVs of all team members, which state their academic qualification (college/ institution attended and period thereof) and detailed working experience (position held, responsibility and period thereof);(b) Proof document(s) of relationship between the PIC and PolyU;(c) Hong Kong Business Registration Certificate;(d) Latest Annual Return/ Incorporation Form (NC1 or NC1G)/ other acceptable documents showing the present directors and shareholders;(e) Supporting documentation illustrating the Applicant has graduated from or is currently in one of the qualified pre-incubation/ incubation programmes pursuant to Section A (5); OR(f) Supporting documentation illustrating that the Applicant is commercialising PolyU technologies previously supported by the Innovation and Technology Support Programme (ITSP) or Midstream Research Programme for Universities (MRP) administered by ITC;(g) Copy of certificate(s) of filing/ grant of patent(s), if applicable; and(h) Copy of the agreement between the Applicant and the R&D collaborating organisation(s) on the sharing of the royalties or intellectual property rights or any other sorts of income to be generated from the Applicant, if any.(i) Certificate of Incorporation

Applicants will need to submit later a mutually agreed and duly signed Investment Term Sheet along with a Business Plan (please refer to Appendix 2 for Business Plan Writing Guidelines) to be shortlisted for due diligence review and present to the TLF Investment Panel pursuant to Section D.

Assessment

Qualitative Assessment Criteria:

Business Model, Commercial Feasibility and Potential

Technology Content

Team Capability

Social/ Community Impact

Current Operational/ Financial Status

Note: Priorities will be given to applications using PolyU patents / technologies / intellectual properties.

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